Bitcoin, Ethereum, XRP, Dogecoin Plummet Even as SEC Chair Paul Atkins Sees Crypto Bill Advancing: Analyst Says BTC’s Big Move ‘Just Around the Corner’

Leading cryptocurrencies fell sharply on Monday as investors weighed developments around the Clarity Act and a pause in U.S.–Iran hostilities.

Crypto Market Tumbles

Bitcoin nearly dived below $63,000 in a sharp evening sell-off, while Ethereum fell to $1,860 as 24-hour trading volume more than doubled.

Over $670 million was liquidated from the cryptocurrency market in the last 24 hours, with $533 million in bullish long positions wiped out, according to Coinglass data

Bitcoin’s open interest fell nearly 2% over the last 24 hours. That said, derivatives traders on Binance stayed net-bullish on the apex cryptocurrency.

“Fear” sentiment prevailed in the market, according to the Crypto Fear & Greed Index.

Earlier, cryptocurrency-related stocks rallied, with Strategy Inc. (NASDAQ:MSTR) and Bitmine Immersion Technologies Inc. (NYSE:BMNR) closing up 7.61% and 13.49%, as investor hopes mounted for passage of the Clarity Act.

SEC Chair Paul Atkins said in a CNBC interview that he’s “optimistic” that Congress will pass the key cryptocurrency market legislation.

Top Gainers (24 Hours) 

The global cryptocurrency market capitalization stood at $2.23 trillion, following an increase of 1.19% over the last 24 hours.

Read Also:MSTR Target Price Remains $570, Benchmark Equity Research Writes: Why So Bullish?

Dow Rallies, Nasdaq Dips

Major indexes closed in the green on Monday. The Dow Jones Industrial Average rallied 262.83 points, or 0.51%, to end at 52,210.08. The S&P 500 eked out a narrow gain of 0.02% to close at 7,413.18. The tech-heavy Nasdaq Composite, meanwhile, slid 0.18% and settled at 24,932.08.

Hostilities between the U.S. and Iran remained paused after nearly two weeks of nightly military exchanges. Mike Waltz, U.S. Ambassador to the UN, said negotiations are ongoing at both technical and senior levels, but stressed that the U.S. military remains “locked and loaded.” 

Big Move Around the Corner?

Ali Martinez, a widely followed cryptocurrency analyst and trader, noted Bitcoin’s 3-day Bollinger Bands tightening around the $65,000 level.

“Periods of low volatility like this are often followed by a major price expansion. A big move could be just around the corner,” the analyst projected.

The Bollinger Band Squeeze occurs when the volatility drops, causing the space between the bands to tighten. When the price closes outside of bands, traders consider it a potential new breakout. This strategy is used to identify the start of new trends following periods of consolidation.

Bitcoin $BTC 3-day Bollinger Bands are starting to squeeze.

Periods of low volatility like this are often followed by a major price expansion. A big move could be just around the corner. pic.twitter.com/ytFoCBIedh

— Ali Charts (@alicharts) July 27, 2026

Michaël van de Poppe, another prominent cryptocurrency influencer, spotlighted a short-term correction in Ethereum, but emphasized bullish continuation on the daily chart, targeting a breakout toward $2,000.

A little correction on the markets for $ETH.

However, if you look at the larger picture (which is the daily timeframe), it’s still eyeing a continuation of the breakout towards $2,000+. pic.twitter.com/eAxCblONVi

— Michaël van de Poppe (@CryptoMichNL) July 27, 2026

Read Also:Strategy Raises $544M, Skips Bitcoin Buys for Fifth Straight Week: What’s Happening?

Photo: Sodel Vladyslav / Shutterstock

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This article Bitcoin, Ethereum, XRP, Dogecoin Plummet Even as SEC Chair Paul Atkins Sees Crypto Bill Advancing: Analyst Says BTC’s Big Move ‘Just Around the Corner’ originally appeared on Benzinga.com

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